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Affordable Housing in Brookhaven: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brookhaven, a neighborhood in Atlanta, Georgia, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 118 total units, all designated as low-income units. This affordable housing stock represents approximately 15.9% of the estimated housing inventory in Brookhaven, based on the 2022 population of 1,941 and using the national average household size. This percentage aligns with the target for a balanced community.
The LIHTC program has invested substantially in Brookhaven's affordable housing, with project tax credits totaling $481,714. This equates to an average federal funding of about $4,082 per unit in LIHTC funded projects. The neighborhood's LIHTC funded affordable housing inventory consists of one project, Genesis Gardens, completed in 1999. This indicates that affordable housing has been part of Brookhaven's landscape for over two decades.
Genesis Gardens offers a mix of unit types, including 38 two-bedroom units and 5 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families within the affordable housing stock.
Over the past decade, Brookhaven has experienced demographic shifts. The population decreased from 3,181 in 2019 to 1,941 in 2022, a decline of approximately 39%. Despite this population decrease, the median income increased from $169,035 in 2019 to $199,516 in 2022, an increase of about 18%.
Regarding racial distribution, Brookhaven has maintained a predominantly white population, with an increase from 88% in 2019 to 93% in 2022. The Asian population decreased from 6% to 3%, while the Black and Hispanic populations remained relatively stable at 2% and 1% respectively in 2022.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and the relatively stable racial composition of the neighborhood. The existing LIHTC project, Genesis Gardens, may be meeting the current affordable housing needs of the community, particularly considering the population decrease.
Brookhaven's LIHTC funded affordable housing inventory, consisting of a single project, plays a significant role in the neighborhood's housing landscape. Genesis Gardens provides 118 low-income units, covering about 15.9% of the estimated housing inventory. This aligns with the target percentage for balanced communities. The neighborhood has experienced a population decrease and median income increase over the past decade, which may explain the lack of new LIHTC projects. The existing LIHTC project continues to contribute to the neighborhood's affordable housing needs, supporting a diverse and inclusive community in Brookhaven.
